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BitMine's ETH Holdings Generate $410M Unrealized Profit

BlockBeats reports that as of 10:59 PM ET on August 10, BitMine (BMNR) holds 1,150,263 ETH (0.95% of the total Ethereum supply) at an average buy-in price of $4311, realizing a 6.14% floating profit.

ETH

Summary

According to BlockBeats, as of 10:59 PM ET on August 10, BitMine (BMNR) increased its ETH holdings to 1,150,263, which represents 0.95% of Ethereum's total supply. With an average buy-in price of $4311 and the current Ethereum price at $4576, the position shows a floating profit of 6.14%, amounting to approximately $304 million.

Terms & Concepts
  • Ethereum: A decentralized blockchain platform that enables the use of its Ether cryptocurrency and smart contracts.
  • Floating Profit: The current, unrealized profit calculated from the difference between the asset's market price and its average purchase price.